The best credit cards and card companies with no late fees of 2024

No late fee credit cards

Have you ever missed a bill payment despite your best efforts? Well, too many failures, like 21 or even 41 for late payments cases may bring you a problem like fee for your first late return of money.

If you missed the due date by a couple of days (or even just a day late!), you may be sitting beside yourself, worrying about the next billing. Unfortunately, some companies charge up to $41 for delays, which can break the bank, especially if you often don’t pay on time.

While you can avoid late fees on credit cards entirely by making payments on time, you might be experiencing financial issues or sometimes forget. Note that credit card is the best option can help. Read on to learn more.

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Best credit cards with no late fees

What are credit card no late fees and how to avoid late fees?

Let’s first talk about credit card late fees. They are applied to your account if you do not pay the minimum payment on or before your bill’s due date. This fee will show up on your next monthly statement, raising your balance.

On top of late fees, you’ll also need to pay for the interest charge for late payments made by uncontrolled situations.

As the name implies, a credit card no late fee has a late fee waiver and would not charge if you paid late.

That way, using the best credit cards with no annual fee and no balance transfer fee, you won’t have to worry about the costly late fee or even penalty that will add up if you are late on a payment because of financial hardship or forgetting the payment due date.

How no late fees work if you miss a credit card payment?

You have probably seen companies advertise their products by offering tempting rewards, such as a welcome bonus, no annual fee, cash back, consolidate my debts help or rewards programs.

In the case of a credit card no late fee, cardholders will not be charged. While there aren’t many options that won’t forgive your fee, you may still be able to choose among the limited options that suit your needs and preferences.

Most companies that do offer no fee would only do so for the first late fee. After waiving your first late payment fee, they will charge you for any delays in the future, so you will have to pay for your credit card on time. However, some offer no late fees forever.

They will waive your late fee no matter how often you miss a payment. This may sound awesome, but it also comes with disadvantages like additional payments if you don’t use your card properly, which we’ll discuss below to help with late payments in the future.

Read More: Credit Card Late Fees

What credit card issuer offers credit card no late fees or cash back?

It is a simple process. Here are the steps to follow:

1. Shop around for credit cards

2. Evaluate your score and determine which card is best for you.

You can choose among more popular credit cards without late fees, which can help you lessen the expenses if you accidentally pay a few days later than the due date. Many may offer other deals, such as cash back and absence of monthly payments or waiving late fees.

Here are a few credit cards available to consider:

  •  Visa® credit card
  • Citi simplicity® card
  • Apple card

3. Read the fine print

Once you have narrowed down the list to a Citi simplicity card, for example, make sure you always read the fine print before applying.

Note that your selection requires a rigorous review of all the details of what you will apply for, like minimum payment due, penalties etc. Determine what to expect if you are late on payment beforehand.

The things to watch out for are the annual fee and interest rates for purchases, cash advances, balance transfers, and penalties. Watch out for any fees regarding foreign transactions and if late fees are charges only for the first payment or subsequent payments.

4. Submit your application

Once you have read the fine print and selected the best option suited to your needs, apply. You can do this online via laptop or mobile phone. Alternatively, you can call or go in person to a bank to submit a paper application.

The application process is simple. You just need to provide personal information, including your name, address, date of birth, annual income, employment status, and social security number.

The issuers can approve in as quick as a minute, though the wait times vary. You may be approved or otherwise endorsed to another department to clarify your information, so keep your phone line open. Then wait for your simplicity® card has been collected.

Who should get credit card no late fees?

Using a waiver may benefit those who expect to make multiple delays due to financial hardships or forgetfulness.

It may be suitable for those who want another card to use as a backup in case they know they will have to pay late.

That said, not everyone will benefit. Do note that even if a late fee hasn’t been charged, you will still need to pay your balance soon, or you may end up paying more in the long run! We’ll tackle more of why that’s the case in the next section and why it’s best to start paying on time rather than making a late payment!

No Late Fee Credit Cards: Is First Late Fee Waived for First Late Payment Only?

Understandably, an option that won’t incur a fee if you pay your bill late sounds good at first. But this doesn’t mean you can ignore your statement credit because you won’t incur a late fee.

If you delay your monthly payment, you won’t have to worry about the late fee, but there are other things you should consider, from your credit report, down to interest fees.

You might think that your first delay means you’re saving money, but if you aren’t careful, you’ll pay way more than expected in the long run.

Here are what you must consider when determining if this is right for you:

Interest rate increase

Yes, the company won’t charge a late fee when paying after your payment is due. But remember that card issuers charge more than the late fee on your monthly payment.

For instance, the interest rate will increase, and they tend to increase significantly. That is why you must ask your card issuer about any additional fees and the interest rate.

On average, your card’s interest rate can shoot up to a whopping 25-29%. Late fees are pricey and the average late penalty can range between $15-35, but it won’t look as huge as an elevated interest rate on a large balance.

Credit damage

No late fees equal no consequences when paying your credit card dues on time. Unfortunately, that’s not the case. Constantly missing your payments, even if your cards waive the late fee, will greatly blow your credit score.

If you don’t settle at least the minimum payment and are over 30 days late, expect your credit report and credit score to be negatively affected in the long run.

This will increase the risk of paying more for loans, insurance premiums, utilities, etc. You may also have difficulty with credit bureaus and finding a job or apartment. After all, missing your payment more than once is a red flag to many lenders and businesses.

More expensive

Generally, the credit cards offer can hide higher interest rates than credit cards that charge late fees. Some credit card issuers even remove the balance transfer fee, cash advance, or exceed the credit limit!

However, the fewer fees a creditor charges, the higher the interest rate usually is. So, in the end, you’ll find yourself paying even more in the long run than just paying the fee. Or it’s best to to remember to pay on time!

Read Also: Late Credit Card Payment? Here’s What to Do

Bottom line: Is a Late Credit Card Payment an Option?

Is the card that doesn’t charge fee right for you? With the possibly higher interest rate, it may not be the best choice. You may want a credit card from card companies that do not charge a late fee for your first delay just in case you forget to pay on time, or even offer a fee waiver.

However, even then, you must check their policies, fee waived conditions and interest rates. This will help you avoid paying more than if they don’t charge no late fees.

Moreover, it’s important to remember that this option does not mean there aren’t any consequences for multiple failures to pay on time for credit card companies.

That is why it’s best to become a responsible credit card user and always check their credit card bill, pay on time to avoid late fees, high-interest rates, and other charges or credit card debt.

Moreover, don’t forget also google “How do I change my name on my credit cards” if you have new card, keep your credit card balance low and choose a consumer-friendly card with a low-interest rate, a longer grace period, and easy to communicate with in case you make a late credit card payment (within reason or if you’re only late by a day).

Sources Used in Research for the Article:

  1. Credit Card Late Fees and Late Payments, Consumer Financial Protection Bureau,
  3. CFPB Proposes Rule to Rein in Excessive Credit Card Late Fees, CFPB,


What Are Credit Card No Late Fees?

This refers to a credit card account that waives charges associated with the first or subsequent late delays made. A credit card issuer may waive the a monthly credit card fee only for the first or all additional delays.

What is the risk of late payments?

If you do not pay your bill on time, for example, when your credit card payment is due, you stand the chance of negatively affecting your credit history. Average credit card holders will experience the long-term repercussions with high-interest rates, the fee on your first late payment, late fees and penalty APR fee or even rejection, along with the fact their credit score will likely drop, resulting in higher interest rates in loans and possible rejection in job applications based on your credit. So control delays in the future to not miss next due date or obligations for additional late payments.

What Is a Good Credit Score?

A good credit score is around 670 to 739. A good credit score will help you save money on insurance, lower your interest rates on loans, and give you higher credit limits.

What Affects Your Credit Scores?

Numerous factors affect your credit score, such as your payment history, length of credit history, amounts owed, new credit, and debt-to-credit ratio. Late or missed payments, closing older accounts, applying for new credit accounts, or any other changes to your credit utilization rate or credit mix can cause your credit score to go down.